The ANZ-Roy Morgan Australian Consumer Confidence index has continued its losing streak, falling 2.8 per cent last week to its lowest level in more than four years. Weakness is across the board.
Current financial conditions fell 0.1 per cent, while future financial conditions plunge 4.4 per cent. Current financial conditions are still above average but future conditions are now below.
Current economic conditions fell by 1.3 per cent last week to a four-year low, while future economic conditions declined 4.6 per cent and are now at an all-time low.
The ‘time to buy a household item’ was also at a multi-year low, falling 3.3 per cent. The four-week moving average of inflation expectations was stable at 3.9 per cent.